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JPMorgan was sued in February 2013 by investors claiming they had suffered $650 million in damages from losses in the trust it created after purchasing the loans. (Credit: AP)

JPMorgan Must Face Suit Over $1.9B MBS Trust: NY Court

JPMorgan Chase & Co. can’t kill a suit claiming it misrepresented the quality of loans in a $1.9 billion mortgage-backed securities trust, a New York appellate court ruled Tuesday, saying the bank had guaranteed information that later turned out to be inaccurate.

  • Puerto Rico Avoids Default, Asks For Bankruptcy Option

    Puerto Rico said Tuesday that it has made a scheduled $355 million debt payment to bondholders to avoid another default, while the commonwealth's political leaders continued to plead with members of Congress to pass legislation that would permit the territory to restructure its debt through the U.S. court system.

  • BuckleySandler Tapped By Pa. AG To Probe Porn Emails

    Embattled Pennsylvania Attorney General Kathleen Kane announced Tuesday that she was appointing a team of lawyers from Washington, D.C.-based BuckleySandler LLP, led by a former Maryland attorney general, to investigate and prosecute crimes stemming from state employees’ improper use of email.

  • House Passes Revised Intelligence Authorization For 2016

    The U.S. House of Representatives on Tuesday passed legislation authorizing the operations of the National Security Agency, military intelligence units and other intelligence agencies for 2016, the second version of the bill passed this year.

  • Deadlocked Blankenship Jury Receives Allen Charge

    Jurors deliberating in the criminal trial of former Massey Energy coal magnate Don Blankenship are deadlocked and have been given the “dynamite charge” that commands holdout jurors to reconsider, according to Blankenship's attorney.

  • Austrian Railway Immune To US Suits, High Court Says

    Austria's national railway cannot be sued for personal injury, the U.S. Supreme Court ruled Tuesday, overturning a Ninth Circuit decision holding the railway accountable for a woman's injury.

  • Anadarko Must Pay $159M For 2010 Deepwater Spill

    A Louisiana federal judge ordered Anadarko Petroleum Corp. to pay $159.5 million for Clean Water Act violations stemming from the massive 2010 Deepwater Horizon oil spill, saying the penalty was relatively small because the company was a minority owner of the well and didn't cause the spill.